LONDON, November 17, 2011 /PRNewswire/ --
The Press Association today announces the acquisition of Globelynx, the fixed-camera network which enables corporate executives, financial analysts and commentators to be interviewed on TV news programmes from their offices.
The acquisition of Globelynx, whose network is widely used by the BBC, Sky News, ITN, Bloomberg, CNBC, Reuters and many of the world's major broadcasters, marks the latest move in PA's strategy of diversifying its core news and information business into corporate markets, and adding value to its existing services for media customers. Under the terms of the deal announced today, PA is immediately acquiring 50% of Globelynx and will acquire the remaining 50% over the next four years.
Globelynx, which was founded in 2001, has a growing number of blue-chip corporate customers across financial services, media, and industrial companies. The network carries over 6,000 live interviews a year and has grown rapidly in recent years as a result of increased interest in financial and business TV coverage.
Interviews are conducted via self-operated fixed cameras, located in offices and dealing rooms, which are connected to TV networks via Globelynx' master control room and fibre network. Broadcasters can book interviews up to a few minutes before going on air - without the inconvenience or cost of using outside broadcast facilities, or transporting interviewees to a TV studio. Globelynx also enables corporate executives and spokespeople to be interviewed on live TV without leaving their offices.
The Globelynx acquisition complements PA's current services which include the provision of text, data, photos and videos to the media sector, as well as branded content, media training and PR photography services for corporate clients.
Clive Marshall, Chief Executive of PA Group, commented: "Globelynx is a fantastic business which provides an invaluable service connecting spokespeople with news broadcasters. The explosion in 24 hour news channels has created a huge demand for live comment, a demand which Globelynx, with PA's support, is ideally placed to capitalise on."
David FitzGerald, Managing Director of Globelynx, commented: "Over the past 10 years we have built up a successful business that we are immensely proud of and we are delighted to be joining forces with PA. PA's heritage, expertise and reach within the media sector and beyond will be of great benefit for Globelynx clients and I am confident that we will be able to grow the business even further together. We have a fast-growing list of blue-chip customers who realise that our highly-effective, "TVready" network is a useful alternative or add-on service to an in-house TV studio."
About the Press Association
The Press Association is the national news agency for the UK and Ireland, providing a continuous feed of text, pictures, video and data into newsrooms around the country.
At the heart of the media industry, the Press Association supplies services to every national and regional daily newspaper, broadcasters, online publishers and a wide range of commercial organisations.
Founded in 1868, the Press Association has an unrivalled reputation for providing fast, fair and accurate information.
The Press Association is part of PA Group Limited, a private company with 27 shareholders, most of whom are national and regional newspaper publishers. The biggest shareholders are Associated Newspaper Holdings Limited, News International plc, Trinity Mirror plc and United Business Media plc.
For more information, visit http://www.pressassociation.com
Globelynx Ltd is a UK-registered company which operates the Globelynx "TVready" fixed-camera Network. It has more than 50 corporate customers and is used by all major TV news networks in the UK and internationally. It is responsible for some 6,000 live interviews each year. The company was founded in 2001. David FitzGerald, the company's Managing Director and majority shareholder, is a former TV producer. He will continue to manage the company under PA ownership, as will non-executive director Colin Morrison.
For more information, visit http://www.globelynx.com
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